Tag Archives: Distillers and Blenders Association of Nigeria

Alcohol manufacturers mull price increase as new excise tax takes effect

Alcohol manufacturers in the country are set to raise prices on their goods following the increase in excise duty by the Federal Government on the product which came into effect on Monday June 4, 2018.

According to a report on Friday by the Punch Newspaper, manufacturers said their price increase will take effect immediately and in tandem with the new excise duty regime ushered in by the government.

Distillers, MAN urge FG to reconsider new duty on alcohol, tobacco

The Distillers and Blenders Association of Nigeria (DIBAN) has appealed to the Federal government to suspend the implementation of the new excise duty increase on alcohol and tobacco, warning that its imposition could affect the industry’s fortunes and lead to massive job losses.

The association was speaking on Wednesday at a joint news conference held with the Manufacturers Association of Nigeria (MAN) at their Lagos office to protest the new excise duty increase on wines and spirits. The group vowed to resist what they described as “astronomical hike in the excise duty”, lamenting that it will endanger over 250,000 jobs and put at risk investments worth over ₦420bn.